Not to cause any misconception
I will use this journal for trades that I take on the EURO and POUND. It will more be for record keeping, but discussion will be accepted if any one wishes to partake. The only thing that I ask is that we keep it to the point. Humor is always accepted and appreciated.
System = Method + Money Management + Trader – tx Daillist
My Method is an EMA RSI cross over trending System on the 1hr charts but works on any other timeframe and currency pair with or without more or less whipsaws.
Yes another one of those, but it works for me. I have clear entry and exit points which take out all and any emotion involved if followed to the “t”. It averages +/- 25 pips on a trade.
The System has been tested for a month in real-time and throughout news. During news I keep with the trend, but will have a stop loss on profit already showing.
I’ll always enter according to the below rules but will have a 30 pip hedge on the Euro and a 50 pip hedge on the Pound for unforeseen changes, this usually does not get picked up.
5/6 x up & 13/21 is up & RSI21>50_______Long
5/6 x down & above is true______________Exit
5/6 x up again & above is true__________re-enter
RSI21 drops below 50 & below 50ema______exit all L-Hedges
and Visa Versa for Short
http://img2.freeimagehosting.net/uploads/6f56c8a128.jpg
Ranging markets is and will always be a problem
Trades will be presented in the following manner
Time: xxxx GMT +2
Direction: Long/Short
Entry: x.xxxx
Exit: to follow
P/L: to follow
And edited on exit
Thanx
I will use this journal for trades that I take on the EURO and POUND. It will more be for record keeping, but discussion will be accepted if any one wishes to partake. The only thing that I ask is that we keep it to the point. Humor is always accepted and appreciated.
System = Method + Money Management + Trader – tx Daillist
My Method is an EMA RSI cross over trending System on the 1hr charts but works on any other timeframe and currency pair with or without more or less whipsaws.
Yes another one of those, but it works for me. I have clear entry and exit points which take out all and any emotion involved if followed to the “t”. It averages +/- 25 pips on a trade.
The System has been tested for a month in real-time and throughout news. During news I keep with the trend, but will have a stop loss on profit already showing.
I’ll always enter according to the below rules but will have a 30 pip hedge on the Euro and a 50 pip hedge on the Pound for unforeseen changes, this usually does not get picked up.
5/6 x up & 13/21 is up & RSI21>50_______Long
5/6 x down & above is true______________Exit
5/6 x up again & above is true__________re-enter
RSI21 drops below 50 & below 50ema______exit all L-Hedges
and Visa Versa for Short
http://img2.freeimagehosting.net/uploads/6f56c8a128.jpg
Ranging markets is and will always be a problem
Trades will be presented in the following manner
Time: xxxx GMT +2
Direction: Long/Short
Entry: x.xxxx
Exit: to follow
P/L: to follow
And edited on exit
Thanx